Moving in with your significant other is a big step in a relationship. Generally, when couples decide to take this leap, it is because the relationship is going well and it is expected to last. So, “what happens if something goes wrong?” is likely to be the furthest thing from your mind… but it shouldn’t be.
The law governing married couples does not apply to unmarried, co-habiting couples, regardless of how long you have lived together or whether you have children together. As a result, there can be a huge amount of uncertainty when a relationship breaks down and the parties are not married.
Co-habitation Agreements are becoming an increasingly popular way to protect your finances if the worst happens. A Co-habitation Agreement is a legally binding contract, suitable for unmarried couples who are living together. The Co-habitation Agreement sets out who owns what in a relationship and covers what will happen in the unfortunate event of a relationship breakdown. The Agreement can be flexible to suit your unique situation and can cover anything from debts to pets. Having a clear plan in place from the outset is the best way to avoid a huge amount of stress and unnecessary expense down the line. A Co-habitation Agreement can be regularly updated and modified to reflect your changing needs and circumstances.
Co-habitation Agreements are only legally binding and enforceable by the court if they have been properly drafted and executed. Each party should have received independent legal advice. It is, therefore, highly advisable to contact a solicitor before entering into an agreement.
If you would like to know more about Co-habitation Agreements contact Gemma Windle, solicitor in the Family Department at Taylor Walton on firstname.lastname@example.org. Our experienced team will guide you step by step through the process of preparing a Co-habitation Agreement tailored to your individual relationship and circumstances.